Weekly Statistical Bulletin

Transcription

1 1 / Central Bank of Kenya Statistical Bulletin Weekly Statistical Bulletin Key Monetary and Financial Indicators January May 25, , 2018 Interbank Market Activity in the interbank market was subdued during the week ending May 23, 2018 largely on account of reduced participation by large banks in the interbank market. The volumes traded decreased to an average of KSh 7.9 billion from KSh 12.7 billion in the previous week. The number of deals also decreased to an average of 20 compared to an average of 26 in the previous week. The weighted average interbank, however, increased to 5.70 percent from 4.38 percent the previous week as small and medium banks concluded transactions at higher rates (Table 1). Exchange Rate The Kenya Shilling strengthened against the Pound Sterling, the Euro and the Japanese Yen but weakened against the US Dollar during the week ending May 24, The weakening of the Kenya Shilling against the US Dollar reflected increased demand by corporates due to dividend payments. Among the EAC currencies, the Kenya Shilling strengthened against the Uganda Shilling and the Rwanda Franc but weakened against the Tanzania Shilling and the Burundi Franc (Table 2). Government Securities The Treasury bills auctions continued to be oversubscribed during the week ending May 25, The Treasury bills auction of May 24, 2018 received bids totaling KSh 44.2 billion against an advertised amount of KSh 24.0 billion, resulting in a subscription of percent. All the 3 tenors of Treasury bills on offer were oversubscribed. However, the Treasury bond received lower bids than the offer amount during the week. The government floated a 15 year fixed rate Treasury bond that received bids amounting to KSh 20.2 billion against an advertised amount of KSh 40.0 billion. The interest rates on the three Treasury bills declined further during the May 24, 2018 auction. For instance, the 91-Day Treasury bill rate declined from 7.95 percent on May 17, 2018 to 7.94 percent at the auction of May 24, Equity Market The equity market recorded mixed performance during the week ending May 24, Share prices in the equity market were on a decline with the NASI, the NSE 25 and the NSE 20 share indices falling by 1.23 percent, 1.90 percent and 3.21 percent, respectively. Furthermore, equity turnover declined by percent. Trading activity at the bourse, however, increased with the total shares traded increasing by percent. The fall in equity prices resulted in overall reduction in shareholders wealth by KSh billion or percent as measured by market capitalization (Table 3). Bond Market The volume of bonds traded increased marginally by 5.9 percent in the week ending May 24, 2018, to 323 deals as compared to 262 the previous week. Turnover in the local secondary bond market declined by percent in the week ending May 24, This could be attributed to the securities available in the primary market. The international bond market recorded mixed performance in the yields on Kenya s s during week ending May 24, There was a marginal increase in yields of the 10 year, 30 year s (2028 and 2048) and the 5 Year maturing in However, the 10 year (2024) recorded a decline in the yield (Table 3).

2 2 / Central Bank of Kenya Statistical Bulletin Table 1: Interbank Deals, Volumes and Interest Rates Date Number of Deals Value (KSh M) Average Interbank Rate (%) Date Number of Deals Value (KSh M) Average Interbank Rate (%) 10-May , May , May , May , May , May 10-16, , May , May , May , May , May , May 17-23, , Table 2: Kenya Shilling Exchange Rates (Indicative Mean Rates) USD Sterling Euro 100 USHS* TSHS* RWF* BIF* Pound Japanese Yen 11-May May May May May May May May May May May May * Units of currency per Kenya Shilling Source :Central Bank of Kenya

3 3 / Central Bank of Kenya Statistical Bulletin Table 3: Key Weekly Market Indicators INDICATOR NASI 100= 2008 NSE 25 Share Index NSE 20 Share Index 100= 1996 Number of Deals (Shares) Total Shares Traded (Million) Equity Turnover (KSh Million) Market Capitalization (KSh Billion) Bonds Turnover (KSh Million) 5-Year (%) 10-Year (%) Year (%) Year (%) 11-May , , May , , , May , , , , May , , , May , , , May-17 May , , , , May , , , May , , , May , , , May , , , , May , , , May-24 May , , , , Weekly Change -1.23% -1.90% -3.21% -0.54% 42.25% % % % *0.105 * *0.012 *0.101 * Percentage points, NSE and Reuters Table 4: Performance of Treasury Bonds Date of Auction 28-Sep Dec Mar Apr May-18 Tenor FXD 1/2017/2 FXD 1/2017/10 FXD1/2008/15 FXD1/2017/10 FXD 1/2018/5 FXD 1/2018/20 REOPEN FXD 1/2008/15 REOPEN FXD 1/2018/20 FXD1/2018/15 Amount offered (Ksh M) 13, , , , ,000.0 Bids received (Ksh M) 11, , , , , , , ,217.0 Amount Accepted (Ksh M) 11, , , , , , , ,863.5 Maturities (Ksh M) Average interest Rate (%)

4 4 / Central Bank of Kenya Statistical Bulletin Table 5: Performance of Treasury Bills 91-Day Treasury Bills Date of Auction 03-May May May May-18 Amount offered (Ksh M) 4, , , , Bids received (Ksh M) 4, , , , Amount Accepted (Ksh M) 3, , , , Maturities (Ksh M) 5, , , , Average interest Rate (%)- 91 Days Day Treasury Bills Date of Auction 03-May May May May-18 Amount offered (Ksh M) 10, , , , Bids received (Ksh M) 12, , , , Amount Accepted (Ksh M) 8, , , , Maturities (Ksh M) 4, , , , Average interest Rate (%)- 182 days Day Treasury Bills Date of Auction 03-May May May May-18 Amount offered (Ksh M) 10, , , , Bids received (Ksh M) 15, , , , Amount Accepted (Ksh M) 14, , , , Maturities (Ksh M) 9, , , , Average interest Rate (%)- 364 days Chart 1: Kenya Government Securities Curve (%) Years to Maturity 3M 6M Mar Apr May-18 and NSE

5 5 / Central Bank of Kenya Statistical Bulletin Table 6: Government Domestic Debt (Ksh Billion) 26-Jan Feb Mar Apr May May May Treasury Bills (Excluding Repos) (As % of total securities) Treasury Bonds 1, , , , , , , (As % of total securities) Total Securities (1+2) 2, , , , , , , Overdraft at Central Bank Other Domestic debt* Gross Domestic Debt (3+4+5) 2, , , , , , , * Other domestic debt includes clearing items in transit, advances from commercial banks, Pre-1997 Government Overdraft and Tax Reserve Certificates. Table 7: Composition of Government Domestic Debt by Instrument (Percent) 26-Jan Feb Mar Apr May May May-18 Treasury bills (Excluding Repos) Treasury bonds CBK Overdraft to Govt Other domestic debt TOTAL Table 8: Composition of Government Domestic Debt by Holder (In Percent) 26-Jan Feb Mar Apr May May May-18 Banking Institutions Insurance Companies Parastatals Pension funds Other investors Total

6 6 / Central Bank of Kenya Statistical Bulletin Table 9: Indicators of Total Government Debt Mar-17 Jun-17 Sep-17 Dec-17 Jan-18 Feb-18 Mar-18 Domestic debt (KSh Billion) 1, , , , , , , Public & Publicly Guaranteed External debt (US $ Billion) Public & Publicly Guaranteed 2, , , , , , , External debt (KSh Billion) Total public debt (KSh Billion) 4, , , , , , , Source: National Treasury and Central Bank of Kenya Table 10: Official Foreign Reserves US$ Million (Usable) 1. CBK Usable Foreign Exchange Reserves (USD Million)* 2. CBK Usable Foreign Exchange Reserves (Months of Import Cover)** *Excludes Encumbered Reserves **Based on 36 months average of imports of goods and non-factor services. 19-Apr Apr May May May May-18 9,495 9,509 9,142 9,129 9,135 9,